ADB President Takehiko Nakao steps down

Asian Development Bank President Takehiko Nakao has stood down after nearly seven years in office. He will be succeeded by Masatsugu Asakawa, who was Vice Minister of Finance for International Affairs of Japan until July 2019. 

Under Nakao’s leadership, ADB implemented a number of major reforms, with the merger of the lending operations of the Asian Development Fund with ADB’s ordinary capital resources in 2017 roughly tripling the bank’s equity, enabling a significant increase in lending.